The unprecedented volatility on the stock market continued on Friday as the benchmark index of the Toronto Stock Exchange jumped up five per cent.
Thursday was the worst day for the TSX in decades, as the benchmark index lost 12 per cent of its value. Fears of the coronavirus prompted the sell-off, but on Friday buyers seemed to be thinking the market may have overreacted.
Prior to the market opening, the futures market was so strong that the market was temporarily shut down to restore order.
When that shutdown was lifted, the TSX in Canada, and the S&P500, the Dow Jones and the Nasdaq in the U.S. were all up by more than five per cent.
More to come